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| Rav chaim in gemara and tos not rama - with ashray bmata that’s partially yesh lo | | Rav chaim in gemara and tos not rama - with ashray bmata that’s partially yesh lo |
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| ==Repaying a Loan with a Future in Commodities==
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| #If a lender asks to be paid the value of the loan in a commodity and the borrower wants to pay with a commodity that is acceptable.
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| #If the borrower wants to pay with a commodity at a later date and there is a concern that the commodity will change prices in between it is forbidden to do so since the transaction began as a loan and he might be repaid more than he lent. This is forbidden even if the price of the commodity is established in the marketplace.<ref>Rabba on 62b and Rav Oshiya on 63a explain that when a person pays the lender with a commodity at a future date there is a concern for ribbit since the price of the commodity might rise. This problem isn’t solved by the fact that there is an established market price since the borrower wouldn’t be able to buy the commodity with the pre-existing loan.</ref> It is only solved if the borrower has the amount of the commodity he planning on using to repay with<ref>Rashba 62b clarifies that although when discussing seah bseah it is sufficient to have some of the commodity and halachically we consider it as though there were multiple sales using this commodity. However, in the case of a loan that was exchanged for a commodity it remains a loan and in order to permit the potential interest it is essential that it is viewed as a real sale. It is only possible to consider the exchange a real sale if the borrower has the quantity he is offering the lender at the time of the agreement to exchange for the commodity.</ref> at the time of the deal to repay the loan with the commodity.<ref> According to Rabba it isn't even solved if the lender has the commodity, however, according to Rav Oshiya it is solved if he has the commodity.</ref>
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| ==Future Contracts of Commodities== | | ==Future Contracts of Commodities== |
| # It is forbidden to pay in advance for the later delivery of a commodity since it is possible that the price of the commodity will rise. The two ways to permit this is if the seller has the commodity already or the marketplace price is already fixed.<ref>Shulchan Aruch Y.D. 163:1</ref> | | # It is forbidden to pay in advance for the later delivery of a commodity since it is possible that the price of the commodity will rise. The two ways to permit this is if the seller has the commodity already or the marketplace price is already fixed.<ref>Shulchan Aruch Y.D. 163:1</ref> |
